13 Sep 2018 17:32
Cradle Arc plc / EPIC: CRA.L / Market: AIM / Sector: Mining
13 September 2018
Cradle Arc plc
("Cradle Arc" or the "Company")
Results of General Meeting
Cradle Arc (AIM: CRA), the African focused base and precious metals exploration and production company, announces the results of its General Meeting held earlier today.
Resolution numbered 1 put to the General Meeting was passed by the requisite majority. Resolutions numbered 2 and 3 put to the General Meeting were not passed by the requisite majority.
Each of the resolutions put to the General Meeting was voted on by way of a poll. The results of the poll are set out below:
Resolution Number / Description
| Type
| For
| Against
| Withheld
| Total validly Voted*
| Votes for % | |
1) To receive and adopt the Company's annual report and accounts | Ordinary | 66,776,575 | 6,073,074 | 16,987,700 | 72,849,649 | 91.7 | |
2) To authorise the Directors to allot equity securities | Ordinary | 4,536,575 | 85,280,763 | 20,011 | 89,817,338 | 5.1 | |
3) To disapply statutory pre-emption rights | Special | 4,536,586 | 85,300,763 | - | 89,837,349 | 5.0 | |
* - Please note that a vote withheld is not a vote in law and is therefore not counted in the calculation of votes for or against a resolution.
The Board notes that Penmin Botswana (Pty) Limited (which is interested in approximately 41.8 per cent. of the Company's issued share capital and which is connected with Kevin van Wouw, CEO of the Company), refrained from voting on any of the resolutions proposed at the General Meeting, following indications, via proxies, from certain significant shareholders, that they are not supportive of certain of the resolutions. The Company will seek to consult with such significant shareholders over the coming weeks regarding this aspect of the business of the meeting.
**ENDS**
For further information on the Company, please visit www.cradlearc.com or contact:
Cradle Arc plc Kevin van Wouw Mark Jones
| Tel: +44 (0)20 7637 5216 |
Strand Hanson Limited James Spinney Matthew Chandler James Dance
|
Tel: +44 (0)20 7409 3494 |
SP Angel Corporate Finance LLP Ewan Leggat John Meyer
| Tel: +44 (0)20 3470 0470 |
Tavistock Communications Limited Charles Vivian Gareth Tredway | Tel: +44 (0)20 7920 3150 |
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
About Cradle Arc
AIM-quoted Cradle Arc plc is the 60 per cent. owner of the Mowana copper mine in Botswana, an operational open pit mine and processing facility located in the north-east of the country, approximately 120km northwest of Francistown.
The Company recently released a maiden open pit ore reserve estimate (Proved and Probable) of 31.8Mt at 1.17% Cu for 370,800 tonnes contained copper metal, based on a Dense Media Separation (DMS) mine plan.
CRA.L (CRA)